Inflation Rate Confirmation

Lenders act swiftly to the inflation rate confirmation and subsequently mortgage rates increase.

The mortgage market has seen significant changes in the rates that lenders are offering clients. Over the last 24 hours we have seen the likes of Natwest, Barclays and Coventry all increase rates by up to 0.5% (a significant increase

If you have a mortgage with a product end date within the next 6-7 months then now is time to act, to lock in a potentially better rate than may be offered over the next 6 months

This last week, like the mini budget crisis last year, the lending landscape experienced significant challenges, with some lenders withdrawing their existing offerings and looking to reprice at higher rates.

We have seen lenders both pull product ranges and dramatically increase rates. Nationwide last week increased their rates by 0.45%. With Accord increasing rates by up to 0.8%.

This shift in mortgage products has been largely influenced by stronger than anticipated core inflation and this has led to rising gilt prices, which have approached levels observed during the mini budget. These factors, coupled with the projected future increase in the Bank of England base rate, have led some experts to forecast the base rate to rise as high as 5.5%.

The next MPC meeting is scheduled for 22 June, and it is widely forecast that there will now be a further base rate increase.

It is important to note that mortgage rates are expected to remain at a higher level for an extended period, surpassing earlier predictions. Consequently, it is important not to delay any decision to secure a new deal if your mortgage rate ends soon. Acting now could provide you with a significantly better deal than waiting as higher rates and costs are anticipated

Click here to discuss your mortgage options

My Mortgage Experts & Protection Experts Ltd (FCA 937076), is an Appointed Representative of King Mortgages Ltd.

King Mortgages is authorised & regulated by the Financial Conduct Authority (FCA). King Mortgages Ltd is entered on the financial services register under reference number 803561.

The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.


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      Automatic Property Value Updates

      Changes in property value, coupled with a potential reduction in your loan amount (with a repayment mortgage), mean a change in the equity available in your property (Loan to Value); hence there could be improved opportunities for a better mortgage for you.

      Product Expiry Date

      Sussed will track when your mortgage is due to expire (usually when your mortgage payments rise substantially as you will automatically transfer to your lender’s standard rate).

      The app will alert you when it’s the right time to discuss your options with your mortgage broker.

      Sussed can help you plan.

      Rate Riser

      This feature is ideal for today’s economy and increasing prices. Sussed will continually scan the market, looking for the best-fixed rates available, especially when interest rates are rising.

      Using a series of algorithms, our clever technology can identify longer-term fixed rates available today that could save money against predicted rates at the end of your current product term (including the cost of transfer) – sussed is doing all the hard work.

      Equity Available

      With automatic property value updates and your Mortgage information loaded, this feature calculates the amount of equity and the maximum potential loan that may be available within a landlord’s portfolio. This will assist with seeing if there is the opportunity for to perhaps buy another property from leveraging your portfolio.

      Within sussed, you will also be able to see each of your properties with a roadside picture, a confirmed property value, monthly rental, current mortgage balance, payments, interest rate and the Loan to value/Gross rental yield.

      Sussed can help you manage your portfolio.

      Early Review

      This feature is there waiting for interest rates when they reduce. Using the same technology as Rate Riser, sussed will identify if your current deal is now able to be improved.

      Should the interest rates decrease, sussed will compare deals available on the day with your existing deal and flag if there is an opportunity for you to save money by switching.

      Regional Price Limits

      There are price limits on homes you can buy with an equity loan. The limit is different for each region in England.

      • East - £407,400
      • East Midlands - £261,900
      • London - £600,000
      • North East - £186,100
      • North West - £224,400
      • South East - £437,000
      • South West - £349,000
      • West Midlands - £255,600
      • Yorkshire and the Humber - £228,100

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